Families lose hundreds of pounds a year

A STUDY by the Institute of Fiscal Studies found households will lose £974 a year on average by 2015 - and families with children will be even more out of pocket.

GEORGE Osborne’s tax grab and welfare cuts will leave families almost £1000 a year worse off, analysis shows today. The study found households will lose £974 a year on average by 2015.

Families with children will be even more out of pocket, according to the Institute of Fiscal Studies.

And a TUC study found real-terms cuts to child benefit and maternity and paternity pay will leave new parents up to £450 a year worse off.

According to a Labour analysis of figures from economic think tank IFS, families have lost hundreds of pounds a year because of the rise in VAT and cuts to tax credits and other benefits between 2010 and 2015.

http://www.dailyrecord.co.uk/news/politics/revealed-tory-cuts-cost-families-3364020